Asia/Pacific
Russia's ESPO blend crude prices to China soar on robust demand
Discounts for Russia's ESPO Blend crude arriving in China in September are at their narrowest in eight months on firm demand from Chinese independent refiners, trade sources said.
Vietnam to see lower crude oil output in 2021-2030
Vietnam is expected to see a decline in its annual crude oil and coal output during the rest of this decade, the Ministry of Industry and Trade said.
China's gasoline demand peak nears as EV boom hastens transition
China's demand for petrol is likely to peak as early as next year as electric vehicle sales soar, several analysts say, bringing forward an energy transition milestone for the world's biggest polluter and a headache for global refiners.
Obscure traders ship half Russia's oil exports to India, China after sanctions
A Liberian-flagged oil tanker set sail in May from Russia's Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even reached its destination in India, the cargo changed hands.
Gasoil net exports reduce Singapore inventories despite jet fuel from China
Middle distillates stock levels at key trading hub Singapore slipped to their lowest in over four months as robust net exports of gasoil more than offset a surge in jet fuel imports from China, official data showed.
Bunkering hub in Singapore conducts first bio-methanol refueling for Maersk ship
A container ship has refueled with bio-methanol at the world's largest bunkering hub in Singapore, the first such operation to have taken place at the city-state, its port authority said.
China hugely boosts crude stockpiling on cheap Russian oil
China boosted its stockpiling of crude oil to the highest level in three years in June, taking advantage of cheap Russian crude to bolster inventories and add flexibility to future import requirements.
Indonesia's Pertamina launches sales of gasoline with 5% ethanol mix
Indonesian state-owned energy company Pertamina has launched sales of gasoline containing 5% of bioethanol made from sugar molasses in two cities, as the country aims to expand the availability of renewable fuels.
G20 bloc fails to reach agreement on cutting fossil fuels
The Group of 20 (G20) major economies meeting in India failed to reach consensus on phasing down fossil fuels following objections by some producer nations.
Chinese petchem firms betting big on energy transition products
Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies.
- Essar launches hydrogen power plant at Stanlow refinery (U.K.) 7/16
- Trelleborg partners with Airbus on hydrogen-powered air travel 7/16
- Neste, Mitsubishi Corporation agree on strategic partnership to develop supply chains for renewable chemicals and plastics 7/16
- Vale, Komatsu and Cummins announce collaboration to develop dual-fuel large trucks, powered by ethanol and diesel 7/16
- Mexico–U.S. energy trade value fell in 2023 on lower fuel prices 7/16
- Belarus' Mozyr oil refinery restoring operations after outage due to storm 7/16
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